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REGISTERED NUMBER: 05519990 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

MASTERSON LEISURE LIMITED

MASTERSON LEISURE LIMITED (REGISTERED NUMBER: 05519990)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MASTERSON LEISURE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: S Masterson
Mrs N J Masterson





REGISTERED OFFICE: Unit 3
Paxton Road
Clacton on Sea
Essex
CO15 4LR





REGISTERED NUMBER: 05519990 (England and Wales)





ACCOUNTANTS: RE Group Accountants Limited
The Maltings
Rosemary Lane
Halstead
Essex
CO9 1HZ

MASTERSON LEISURE LIMITED (REGISTERED NUMBER: 05519990)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 641,668 569,530

CURRENT ASSETS
Stocks 21,000 21,000
Debtors 5 12,509 10,100
Cash at bank and in hand 60,067 53,367
93,576 84,467
CREDITORS
Amounts falling due within one year 6 143,827 136,745
NET CURRENT LIABILITIES (50,251 ) (52,278 )
TOTAL ASSETS LESS CURRENT LIABILITIES 591,417 517,252

CREDITORS
Amounts falling due after more than one
year

7

20,850

33,850
NET ASSETS 570,567 483,402

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 570,565 483,400
SHAREHOLDERS' FUNDS 570,567 483,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MASTERSON LEISURE LIMITED (REGISTERED NUMBER: 05519990)

BALANCE SHEET - continued
31 OCTOBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:





S Masterson - Director


MASTERSON LEISURE LIMITED (REGISTERED NUMBER: 05519990)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Masterson Leisure Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MASTERSON LEISURE LIMITED (REGISTERED NUMBER: 05519990)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Fixtures
leasehold Plant and and Motor
prop machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2022 90,695 708,229 88,898 37,563 925,385
Additions - 158,472 2,335 10,000 170,807
Disposals - (58,167 ) - - (58,167 )
At 31 October 2023 90,695 808,534 91,233 47,563 1,038,025
DEPRECIATION
At 1 November 2022 - 258,510 62,914 34,431 355,855
Charge for year 4,535 48,754 4,055 3,283 60,627
Eliminated on disposal - (20,125 ) - - (20,125 )
At 31 October 2023 4,535 287,139 66,969 37,714 396,357
NET BOOK VALUE
At 31 October 2023 86,160 521,395 24,264 9,849 641,668
At 31 October 2022 90,695 449,719 25,984 3,132 569,530

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 49 -
Other debtors 12,460 10,100
12,509 10,100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,000 24,351
MGD 8,417 8,812
Trade creditors 46,469 43,412
Taxation and social security 32,746 31,263
Other creditors 44,195 28,907
143,827 136,745

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 20,850 33,850

MASTERSON LEISURE LIMITED (REGISTERED NUMBER: 05519990)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2